Please let us know if you have included Seton in your estate plans.  When you discuss including the Seton Medical Center Foundation in your will or living trust, you should ask your attorney to include the following wording in the will so that the Foundation will be remembered in the proper way:

Seton Medical Center Foundation
Tax ID Number: 94-2824033

Gifts by Will or Revocable "Living" Trust

The most common form of deferred gift to support Seton is a bequest contained in a person's will or revocable (living) trust. The following language is an example of how a bequest to benefit Seton may be worded:

I give, devise and bequeath to Seton Medical Center Foundation, a qualified 501(c)(3) charitable organization located in Daly City and Moss Beach, California, _____ percent of my residual estate (or a specific bequest of $__________, or other personal or real property appropriately described), to be used in accordance with the terms of the most recent written directive I have signed with the Foundation, and, if none exists, to be used as directed by the CEO at Seton Medical Center.

Gifts of Retirement Plans

Naming Seton as a primary or contingent beneficiary of a retirement plan (e.g. IRA, SEP, 401(k), 403 (b), ESOP, etc.) may enable you to make a larger gift than you anticipated because income and estate taxes are not imposed when plan assets are distributed to Seton. If left to an heir, the plan assets are subject to income tax. Your retirement account's plan administrator (the company that manages the account) can help you designate Seton as a primary or contingent beneficiary on the plan's beneficiary deesignation form. (Please send Seton a copy of this form.)

December’s tax legislation allows donors age 70½ or older to make a direct, tax-free rollover of up to $100,000 per year from an IRA to a qualified charitable organization such as Seton.  And donors are allowed to make retirement-account gifts through the end of January 2011 and still count them in their 2010 taxes.

Testamentary Life-Income Gifts

You can fund a charitable gift annuity, charitable remainder unitrust, charitable lead trust through your will. While these gift plans will not generate tax savings during your lifetime, they may reduce estate taxes and provide life income for a loved one.

Gifts of Life Insurance

You can name Seton as a primary or contingent beneficiary of a life insurance policy. If you retain any control over the policy, no income tax deduction is allowed; however, if Seton is named both the sole owner and beneficiary of a paid-up policy, you may receive an immediate charitable deduction for the lesser of the policy's fair market value or the net premiums paid. Additional premiums that you pay may also be tax deductible.

Retained Life Estate in Property

You may generate a current income tax deduction by giving a home or farm to Seton, while retaining the right to use the property during your lifetime. The property will also be removed from your taxable estate. Contact Seton’s Planned Giving Office to discuss this gift opportunity in more detail.